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Bitcoin’s price surged on Friday, fueled by reports that President-elect Donald Trump is planning to issue an executive order prioritizing cryptocurrency. 

This development boosted the flagship cryptocurrency’s value by over 4% to $104,672.37, according to Coin Metrics.

The broader cryptocurrency market also experienced significant growth, with the CoinDesk 20 index rising by 3% after a 4% increase on Thursday. Shares of major exchange operators, including Coinbase and Robinhood, saw gains of over 4% each. This upward trend is largely driven by increased trading activity in small-cap cryptocurrencies, which benefits trading platforms.

In the lead-up to Trump’s inauguration, investors have shown growing interest in smaller-cap, higher-risk coins. For instance, Litecoin’s value skyrocketed by 30% over the past two days. These developments follow a Bloomberg report indicating that Trump plans to establish a crypto advisory council, providing the industry with a voice within his administration.

Discussions are underway regarding a potential executive order that would encompass various aspects of crypto policy, including a bitcoin stockpile, as reported by the New York Times. Despite initial warnings from Wall Street that the market may take time to respond to the new administration’s policies, expectations have risen significantly.

Cryptocurrencies outside of bitcoin are likely to benefit more from clear and supportive regulations, having faced increased scrutiny from SEC lawsuits and alleged banking discrimination under the previous administration.

Some investors speculate that bitcoin could experience a significant rally if a national stockpile or reserve is established. Bitcoin’s value has been closely tied to stock performance this year and has remained relatively stable since late December, when Federal Reserve Chair Jerome Powell expressed concerns about inflation.

Bitcoin ETFs have seen substantial inflows, exceeding $1 billion over the past two days. Investors anticipate that announcements from the incoming administration next week will further boost bitcoin’s value, potentially reaching a new record.

As JPMorgan analyst Kenneth Worthington noted, “The new administration and a new SEC chairman open the door for new opportunity in cryptocurrency innovation.” 

However, he also cautioned that the impact of future cryptocurrency exchange-traded product launches may be limited due to smaller market capitalization and lower investor interest.

“We don’t see a next wave of cryptocurrency [exchange-traded product] launches as being meaningful for the crypto ecosystem given the much smaller market capitalization of other tokens and far lower investor interest.” He added.

Bitcoin’s current record stands at $108,327.01, set on December 17. The cryptocurrency has gained over 11% in value since the start of 2025.

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